I for one am not going to be dumping my shares if the July sales are flat or not as stellar as the previous months. We are talking about one month of sales and we still have August and september sales before the quarter ends. It is possible that with the recent sales increase that customers are well stocked with FAST1.
This is what I am going by in my investment decision:
Military Sales
January, 2005
The following is the communication from CoTCCC to Dr. Clinchy;
"The Committee on Tactical Combat Casualty Care (or CoTCCC) was commissioned in 2002 by the U.S. Special Operations Command, and continued support of the committee has come from the Navy Bureau of Medicine and Surgery (BUMED). The committee consists of 37 medical professionals from all branches of the military, the Public Health Service, the U.S. Coast Guard and selected civilian experts. Membership includes physicians, surgeons and experienced combat medics."
"At meetings of the CoTCCC held in December, 2004, the subject of Intraosseous infusion for vascular access in combat casualty care was reviewed. Of the available Intraosseous devices, the CoTCCC concluded that Pyng Medical Corp's F.A.S.T.1 system for adult Intraosseous infusion with automatic depth control is the one best suited for the rigours of prehospital trauma care in tactical settings, and recommended it for issue to first responders providing care in such settings. This recommendation provides strong support for the wider use of the F.A.S.T.1 in both military and civilian emergency medical arenas."
June, 2005
"Pyng Medical Corp.'s F.A.S.T.1 system training has now become the standard in the United States Army.
The recently released tactical combat casualty care (TC3) course is now a standard element of training for all U.S. Army medics. With the publication of 50,000 copies of the combat-medic field reference manual, all active-duty, reserve and national-guard medics will have TC3 materials in hand. The release of the TC3 course follows on the strong endorsement of the F.A.S.T.1 from the Committee on Tactical Combat Casualty Care (CoTCCC).
It is notable that the material in the TC3 field medic field reference and the audiovisual materials used in the TC3 training were all supplied to the U.S. Army by Pyng Medical. Significant for Pyng Medical is the fact that the F.A.S.T.1 intraosseous device is the prescribed intraosseous device to be used in the event that a medic cannot establish a peripheral intravenous line by other means."
European Market Expansion
March, 2005
"Pyng believes that there is excellent growth potential for its emergency medical products in Europe and the Middle East and it fully expects that sales growth in these areas will rapidly expand as the company's efforts to establish qualified distributors takes hold. In addition to the areas discussed above, the company is currently reviewing request from potential distribution channels in Germany, Spain, Portugal, United Arab Emirates, Dubai, Oman, Qatar and Bahrain."
April, 2005
"In this period Pyng also saw expanded sales overseas with shipments going to Iran, England, Spain and Austria. Its efforts to expand the market for the FAST1 system are yielding results in countries other than North America. Emphasis on increasing sales in North America continues and is led by Dr. Richard Clinchy, director of new business development, and supported by others in Pyng."
June,2005
"Building on Pyng Medical Corp.'s USA market success, it is aggressively investing and expanding its sales and marketing efforts into Europe, in both the civilian and military markets. Pyng Medical is now well positioned to enter into this large potential market with all regulatory approvals in place, specifically CE Mark and ISO 13485.
With 25 member countries currently, and a population in excess of 457 million, Europe represents the world's largest trading block, and has a highly sophisticated emergency medical system. The European medical device market is estimated at about 55.2 billion euros which represents 30 per cent of the global market, and is among the top three markets for medical technology."
July, 2005
"The number of F.A.S.T.1 medical system delivered to date for nine months increased to well over 15,000. The company has recently announced a planned increase in production to 3,500 units per month and it anticipates that it will adjust that upward in the foreseeable future.
Once again Pyng Medical has benefited from its strategy of increasing product awareness, maximizing training in the field, a planned penetration of the European market, and maximizing efficiencies in production, quality and engineering."
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In addition to the potential of the European market, US military endorsement and standardization of FAST1, Pyng continues to have record year over year sales, has recently had it Quality Control Systems inspected and endorsed, expanded production, is currently searching for a new CEO.
I remain very bullish on Pyng and I will need more then July revenue numbers to burst this bubble.
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